Staff Reporter
,
Singapore
A so-called National Bonus compensation.
The Singapore government announced that the GDP bonus of officers in the Administrative Service as well as those with judicial and key statutory appointments will be replaced with the National Bonus, which it said "will take into consideration socio-economic progress of the middle- and lower-income Singaporeans in addition to Singapore’s economic growth."
In addition, their pensions will be replaced pensions will be replaced with either a long term retention package or a gratuity plan.
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